The Corporate Insolvency Resolution Process (CIRP) was initiated against Divine Vidyut Ltd. The initial 180-day CIRP period expired on 16/03/2020. The Resolution Professional (RP) filed an application under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking a 90-day extension of the CIRP period. Three Expressions of Interest (EoI) were received from interested parties. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020. The prospective Resolution Applicants sought 45 days to prepare the Resolution Plan. The RP stated that extending the CIRP would enable him to resolve and explore maximization of the stressed assets of the Corporate Debtor.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Divine Vidyut Ltd. The initial 180-day CIRP period expired on 16/03/2020. The Resolution Professional (RP) filed an application under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking a 90-day extension of the CIRP period. Three Expressions of Interest (EoI) were received from interested parties. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020. The prospective Resolution Applicants sought 45 days to prepare the Resolution Plan. The RP stated that extending the CIRP would enable him to resolve and explore maximization of the stressed assets of the Corporate Debtor.